Thu.Aug 11, 2022

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10 Thursday AM Reads

The Big Picture

My morning train WFH reads: • Private Equity Doesn’t Want You to Read This : Not only do private equity partners make money even if their companies blow up; they also get a pretty good deal from the government on what they earn. Private equity funds generally charge their investors two different fees: a management fee of 2 percent of invested assets per year (funds are held for an average of about six years), and a “carried interest” fee that is 20 percent of any investment gains realized in the

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Thursday links: a critical communication skill

Abnormal Returns

Markets The stock market cares about better or worse, not good or bad. (theirrelevantinvestor.com) A notable sign that markets are moving higher. (allstarcharts.com) Companies Tomasz Tunguz, "Profitability has surged as the most significant correlate & predictor of a public software company’s value." (tomtunguz.com) Amazon ($AMZN) is ladling stock on its employees.

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Kitces & Carl Ep 92: When Clients Want Certainty You Just Can’t Give Them

Nerd's Eye View

Many clients seek financial advisors for their expertise and their abilities to guide them through financial decisions. However, for some clients, the ambiguity that inevitably arises from uncertain outcomes can be very distressing, especially when it comes to investments during volatile times. While these clients may have general concerns about their financial future, their concerns may also be in reaction to messaging from other sources that guarantee (unrealistically) low or even ‘no-ri

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Longform links: a one-man bot farm

Abnormal Returns

Books An excerpt from "How to Stay Smart in a Smart World" by Gerd Gigerenzer. (engadget.com) A Q&A with Paris Marx author of "Road to Nowhere: What Silicon Valley Gets Wrong about the Future of Transportation." (gizmodo.com) Policy U.S. taxpayer money help develop a new battery technology. Now only China uses it. (npr.org) Family separation wasn't a side effect, it was the goal, of U.S. government policy.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: Adobe, defense stocks, Pinnacle West & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Inflation Debates – YoY vs MoM

Pragmatic Capitalism

A surprisingly controversial debate broke out in recent days when Joe Biden said there was no inflation. He was, of course, referring to the month over month reading which showed [ … ].

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When is a Bear Market Over?

A Wealth of Common Sense

A reader asks: So I know you guys have talked a lot about are we in a recession now and being in a bear market (equities declining 20%). When is a bear market by definition over? For instance if we just trade flat for the next year and then do enter a recession does this correction still count as part of that? The short answer is, yes, if we don’t reach all-time highs and rollover again at some point in the coming m.

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How to Invest $1 Million Dollars in Today’s Market (Without Blowing It)

Good Financial Cents

They say your chances of winning the lottery are somewhere in the range of 1 in 10 million. Well, today is my lucky day, because I just won – yeah baby! Okay….maybe I didn’t actually win. We’re just going to pretend I did for the sake of this post. ??. I once had a client ask me, “Jeff, if you had a million dollars, how would you invest it?”. The reality is, there are a ton of different strategies I would personally use to invest $1 million dollars, and to help this seed money grow into even mor

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Current State of the Housing Market

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Current State of the Housing Market A brief excerpt: This is a market overview for mid-August. The early local market reports for July show inventory up over 46% YoY for these markets! These same markets were up 20% YoY in May, so the NAR report for July will show further increases in inventory. It is important to realize inventory is both increasing and still very low.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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Is this a new bull market or a sneaky bear market?

Nationwide Financial

The S&P 500® Index rallied approximately 9% in July, its best month since November 2020, and its best July since 1938, ascending from an important low of 3,666 in mid-June. The bulls have embraced the recent rally despite the geopolitical risks and macro uncertainties. Furthermore, in the latest AAII Investor Sentiment Survey, optimism is above “30% for the first time in over two months and bullish sentiment, expectations that stock prices will rise over the next six months, rose 2.8 percent

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Thiel-Backed Firm Debuts Anti-ESG ETF to Urge More Drilling

Wealth Management

DRLL joins a small but growing wave of so-called anti-woke ETFs after issuers such as BlackRock Inc. put their heft behind environmental, social and governance-focused funds in recent years.

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Weekly Initial Unemployment Claims increase to 262,000

Calculated Risk

The DOL reported : In the week ending August 6, the advance figure for seasonally adjusted initial claims was 262,000 , an increase of 14,000 from the previous week's revised level. The previous week's level was revised down by 12,000 from 260,000 to 248,000. The 4-week moving average was 252,000, an increase of 4,500 from the previous week's revised average.

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NAIFA Members Earn the LACP Designation

NAIFA Advisor Today

Congratulations to the NAIFA members who earned the Life and Annuity Certified Professional (LACP) certification during the July testing window. Julianne Hertel, LACP , (loyal member since 2009), financial advisor and founder at Dream Big Wealth Strategies, LLC , in Worcester, MA. Robert Edgin, LACP , (loyal member since 2004), insurance agent and registered representative at American National in Colorado Springs, CO.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor

During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.

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Hotels: Occupancy Rate Down 5.7% Compared to Same Week in 2019

Calculated Risk

From CoStar: STR: US Weekly Occupancy Near 70%, but Still Behind Pre-Pandemic Level Following seasonal patterns, U.S. hotel performance fell slightly from the previous week, according to STR‘s latest data through Aug. 6. July 31 through Aug. 6, 2022 (percentage change from comparable week in 2019*): • Occupancy: 69.9% (-5.7%) • Average daily rate (ADR): $154.48 (+15.1%) • Revenue per available room (RevPAR): $108.04 (+8.5%) *Due to the pandemic impact, STR is measuring recovery against comparabl

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3 Tips for Getting Your Finances on Track

Integrity Financial Planning

A recent survey found that 85% of Americans said their personal finances were causing them stress. One of the most common concerns was having enough saved for retirement. There’s no better time than now to review your current situation and get your finances on track. #1 Establish a List of Goals. As the year goes by, significant events can impact your outlook on life and retirement.

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CFP Board Chooses New Chair-Elect for 2023

Wealth Management

Matthew Boersen, the head of the Michigan RIA Straight Path Wealth Management, will become the CFP Board’s youngest chair when he takes over at the start of 2024.

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How Should I Save for Short-Term vs. Long-Term Goals?

Wealthfront

When you think about your financial future, you probably have two kinds of goals: short-term goals, like a vacation you plan to take later this year, and long-term goals, like sending a child to college or retiring. In order to give yourself the best chance of comfortably reaching those goals, you should approach your short-term […]. The post How Should I Save for Short-Term vs.

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Transforming Lending: Understanding the Power of Digital Platforms

Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

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Increased Cost of Capital Forces a Reset of Multifamily Valuations

Wealth Management

Buyers are beginning to ask for discounts and some deals fall through. But experts say the disturbance in the sector is based on “short-term uncertainty.

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Litigation Finance as Alternative Investment

Alpha Architect

Litigation finance is a rapidly growing niche asset class focused on debt and equity investments in litigation claims and law firms. We find that in-sample returns in the space have been in excess of 20% annually with limited correlation to other investment areas. This apparent excess return may be due to information asymmetry and barriers to entry in the space.

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Seven Must Reads for the CRE Industry Today (Aug. 12, 2022)

Wealth Management

Morningstar looks at the most undervalued REIT stocks. Hotel demand and room rates are expected to hold up through the fall season, reports The Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

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10 ways to get on someone’s radar

Million Dollar Round Table (MDRT)

By Bryce Sanders Have you ever come across a person with the potential to be a great prospect? There’s just one problem: You don’t know them. How can you change that? Let’s look deeper. This person might be a high-profile person mentioned in the news. They might be a local philanthropist you do not know or a senior executive who recently relocated to the area.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Captrust Adds 8-Person Team in South Carolina

Wealth Management

The former Reynolds Investment Management will partner under the Captrust banner with a Greenville, S.C. team acquired last year.

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Dogecoin Price Prediction: Will DOGE Hit 10 Cents?

Good Financial Cents

This is a question that many investors are asking as cryptocurrency continues to gain popularity. While there is no simple answer, there are a few factors to consider that could help you make a prediction. What is Dogecoin? Dogecoin ( DOGE-USD ) is a cryptocurrency that was created in 2013 as a way to satirize the Bitcoin craze. It is often called the “joke currency” because it was originally started as a prank.

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MAI Capital Management Acquires Pareto Wealth Management

Wealth Management

The Cleveland-based acquisition strengthens MAI’s foothold in Northeast Ohio as it continues efforts to add new capabilities.

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Show Us Your Portfolio: Phil Huber

Validea

In our latest episode of Show Us Your Portfolio we speak to Savant Wealth CIO Phil Huber. We discuss Phil’s approach to building his personal portfolio and the core principles that guide it. We also discuss Phil’s view on the expected returns of stocks and bonds, his approach to selecting alternative investments and a lot more. We hope you enjoy the discussion.

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The Blueprint for a Customer-Centric Digital Lending Experience

Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.

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Six Lessons Learned From Retirement Systems Outside the United States

Wealth Management

The keys to strengthening Americans’ retirement security may be found beyond our borders.

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Retirement Is Just Around A Corner Or Two For Older Gen-X

Random Roger's Retirement Planning

Peter Lazaroff posted Investing in Your 50's which focused on both portfolio and lifestyle considerations as people in that age group are looking around one corner or two toward their retirement. All the advice is sound, nothing that was clearly incorrect or anything but as I read it I repeatedly thought to myself, yeah but. Again, "the book" would agree with the post but being well into my 50's now, I feel like it ignored real world stuff, or put differently, peoples real life situations are no

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The Wealth Management Firm of the Future: Martine Lellis on Human Capital and The Client Experience

Wealth Management

Mercer Advisors' Martine Lellis discusses how the role of financial advisor is evolving with client need.